🏥 Long-Term Care Planning

Don't Let a Long-Term Care Event Wipe Out a Lifetime of Savings

70% of Americans over 65 will need some form of long-term care. At $90,000+ per year, just a few years of care can devastate a retirement nest egg. The right plan protects you — and your family.

Medicare Won't Pay for Most Long-Term Care. Your Savings Will.

Most people assume Medicare covers nursing home or in-home care. It doesn't — at least not in any meaningful way. Medicare covers only short-term skilled nursing care (up to 100 days) after a qualifying hospital stay. Everything else comes out of pocket.

That means without a plan, a 3-year nursing home stay could cost over $270,000 — wiping out savings that took a lifetime to build, and potentially leaving a spouse with nothing.

⚠️ The Spousal Poverty Trap: When one spouse needs long-term care, the costs can rapidly deplete joint assets — leaving the healthy spouse with inadequate resources to live on. Long-term care planning protects both of you, not just the person who needs care.

  • Average nursing home (private room): $9,034/month — over $108,000/year
  • Average assisted living facility: $4,500/month — $54,000/year
  • Average home health aide: $5,148/month — $61,776/year
  • Women need care an average of 3.7 years; men average 2.2 years

What Medicare Actually Covers

Days 1–20 of skilled nursing Covered
Days 21–100 (copay ~$194/day) Partial
Day 101+ of nursing home Not Covered
Home health aide (custodial) Not Covered
Assisted living facility Not Covered
70%
of Americans over 65 will need long-term care services at some point in their lives
Source: U.S. Department of Health & Human Services

3 Ways to Plan for Long-Term Care

There's no single right answer — the best approach depends on your age, health, assets, and how you want to protect your spouse. We help you choose the right path.

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Traditional LTC Insurance

A standalone policy that pays a daily or monthly benefit when you need care — at home, in an assisted living facility, or a nursing home. Premiums are lower when purchased younger and healthier.

Best for: Ages 45–60 in good health · Those who want maximum daily benefit flexibility
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Hybrid Life / LTC Policy

A life insurance policy with an LTC rider — combining death benefit protection with long-term care coverage in one product. If you never need care, the full death benefit goes to your beneficiaries. Nothing is wasted.

⭐ Most Popular — Best of Both Worlds
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Annuity with Care Rider

Some annuities allow you to double or triple your benefit amount if you need long-term care. Your retirement savings do double duty — growing for retirement AND providing care protection.

Best for: Those with existing retirement savings looking to add LTC protection without new premiums

Long-Term Care FAQs

Does long-term care insurance cover home care?

Yes — most modern LTC policies cover care provided at home, in assisted living, in memory care facilities, and in nursing homes. Home care is actually what most people prefer and use first.

What triggers the benefits — when do payments start?

Benefits typically begin when you're unable to perform 2 of 6 Activities of Daily Living (bathing, dressing, eating, toileting, transferring, continence) OR when you have a cognitive impairment like Alzheimer's. A licensed healthcare professional must certify the need.

What if I buy coverage and never need it?

With a hybrid life/LTC policy, the unused benefit passes to your beneficiaries as a death benefit. With traditional LTC insurance, you don't receive unused premiums back — but the peace of mind and family protection have real value regardless of whether you claim.

Can my spouse and I get coverage together?

Yes, and many carriers offer shared-benefit riders — meaning you and your spouse share a combined pool of benefits. If one spouse uses less, the other has access to more. Multi-life discounts often apply for couples applying together.

Protect What You've Spent a Lifetime Building

A free consultation takes 30 minutes and could protect decades of retirement savings from being depleted by care costs.